How To Stay Honest When Filing Taxes In A Pandemic Year
Many in the U.S. will be filing their personal income tax returns in the next few months.
With almost half of those in the U.S. having lost at least some employment income due to the virus, the 2022 tax season may bring more personal and financial stress than usual.
As a result, there could also be a moral struggle going on about whether to be honest about one’s taxable income. Exaggerating one’s donation to Goodwill, for example, or failing to report freelance earnings could lower a taxpayer’s burden.
Each year many people do cheat on their taxes. According to findings released by the Internal Revenue Service in 2016, tax evasion costs the federal government over US$450 billion each year. The IRS estimates that for every $6 owed in taxes to the federal government, one dollar is not pai...